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Auslanco - GBP/JPY and GBP/USD (newstrade)

  • #71,601
  • Apr 2, 2008 9:47am Apr 2, 2008 9:47am
Quoting Scrat
ok, so you all agree with me... that's not good at all. i'm going long right now!!!
Patience + Humility + Study = Success
  • #71,602
  • Apr 2, 2008 9:47am Apr 2, 2008 9:47am
Quoting Scrat
ok, so you all agree with me... that's not good at all. i'm going long right now!!!
LOL!
  • #71,603
  • Apr 2, 2008 9:50am Apr 2, 2008 9:50am
Quoting Scrat
ok, so you all agree with me... that's not good at all. i'm going long right now!!!
U know we are all laughing right now but I'm actually looking to add another long to my position on a pull back to at least 203.45/50 area myself, As I see UJ possibly challenging 203 area later this afternoon if the DOW holds up. . .
  • #71,604
  • Apr 2, 2008 9:50am Apr 2, 2008 9:50am
Getting choppy ahead for GJ, probably due to DJIA shakiness.
Patience + Humility + Study = Success
  • #71,605
  • Apr 2, 2008 9:52am Apr 2, 2008 9:52am
lol,..nah,just listen to scrat and short carries..
its just money
  • #71,606
  • Apr 2, 2008 9:55am Apr 2, 2008 9:55am
Quoting quecee5
Good strategy. . .
Here are my thoughts, if we get a daily close above weekly R2 of 203.80/85 then I'm long to at least weekly R3 @ 205.50/206 area. . .

Looking at the 4hr chart I don't see anything standing in the way of reaching at least this area but trade what u see. . .

Guess I'll keep my eyes on ZL indicator when I get home.
  • #71,607
  • Apr 2, 2008 10:03am Apr 2, 2008 10:03am
Quoting quecee5
U know we are all laughing right now but I'm actually looking to add another long to my position on a pull back to at least 203.45/50 area myself, As I see UJ possibly challenging 203 area later this afternoon if the DOW holds up. . .
excellent
Patience + Discipline - Greed = Success
  • #71,608
  • Apr 2, 2008 10:22am Apr 2, 2008 10:22am
I'm currently long. It is my understanding that GJ is affected by the $ and DJ what abt cable? if $ goes down GU goes up but mostly GJ goes down with it. now it looks like DJ is up $ is doing not so bad GJ is going up and GU says up here.
All the best things in life are free.
  • #71,609
  • Apr 2, 2008 10:36am Apr 2, 2008 10:36am
ya allah
hi all
  • #71,610
  • Apr 2, 2008 10:37am Apr 2, 2008 10:37am
Quoting hussin naiji
ya allah
hi all
  • #71,611
  • Apr 2, 2008 10:39am Apr 2, 2008 10:39am
Quoting quecee5
hi dear q
h r u?
  • #71,612
  • Apr 2, 2008 10:40am Apr 2, 2008 10:40am
Quoting hussin naiji
ya allah
hi all
bless
Patience + Discipline - Greed = Success
  • #71,613
  • Apr 2, 2008 10:42am Apr 2, 2008 10:42am
im short on GJ
JUN2008 1.9690 +0.0114
JUN2008 195.76 +3.865
  • #71,614
  • Apr 2, 2008 10:43am Apr 2, 2008 10:43am
Quoting hussin naiji
ya allah
hi all

Greetings
Patience + Humility + Study = Success
  • #71,615
  • Apr 2, 2008 10:43am Apr 2, 2008 10:43am
Quoting hussin naiji
hi dear q
h r u?
Great - Just collecting these pips while I can. . .
How's your day?
  • #71,616
  • Apr 2, 2008 10:49am Apr 2, 2008 10:49am
Here's something I've been looking at for some days. Cable is trying to break some major resistance to the downside. You see where Weekly S1 is, alot of fib levels there too. I think it will break it this or next week. I think it will drop first 400 pips from that level, which is about 400 pips on GBP/JPY too. (400 pips on USD/JPY makes 800 on GBP/JPY). Then it might go on from there some thousand pips down, (daily/weekly).

On GBP/JPY I also believe in the strong bearish trendline on daily.

(I am bearish biased due to a short position I have, or am I still in it because I am so confidence in both my technical and fundamental analysis? hmmm)
Attached Image (click to enlarge)
Click to Enlarge Name: cable.gif Size: 74 KB
  • #71,617
  • Apr 2, 2008 10:57am Apr 2, 2008 10:57am
Quoting SimonJ
Here's something I've been looking at for some days. Cable is trying to break some major resistance to the downside. You see where Weekly S1 is, alot of fib levels there too. I think it will break it this or next week. I think it will drop first 400 pips from that level, which is about 400 pips on GBP/JPY too. (400 pips on USD/JPY makes 800 on GBP/JPY). Then it might go on from there some thousand pips down, (daily/weekly).

On GBP/JPY I also believe in the strong bearish trendline on daily.

(I am bearish biased due to a short position I have, or am I still in it because I am so confidence in both my technical and fundamental analysis? hmmm)
How do you know that UJ and GU price will go in the same direction???? I agree that UJ will have a 3 wave correction to perhaps 101.00/101.40 area but then look for 5 waves up to higher highs to complete it's major 4th wave then we'll see it go south

GJ will go along for the ride as well to at least 208 area in the coming week(s) - jmho. . .
  • #71,618
  • Apr 2, 2008 11:01am Apr 2, 2008 11:01am
Quoting quecee5
Good strategy. . .
Here are my thoughts, if we get a daily close above weekly R2 of 203.80/85 then I'm long to at least weekly R3 @ 205.50/206 area. . .

Looking at the 4hr chart I don't see anything standing in the way of reaching at least this area but trade what u see. . .
Q,

I'm trying to understand how you see 205.5/206 as a target.
Is it based on weekly bullish bar? ZLS is about to cross on weekly and we have a cross on daily ZLS? I use MAC at work so I don't have access to MT4. Any feed back would be much appreciated. Thanks.
  • #71,619
  • Apr 2, 2008 11:14am Apr 2, 2008 11:14am
Quoting quecee5
How do you know that UJ and GU price will go in the same direction???? I agree that UJ will have a 3 wave correction to perhaps 101.00/101.40 area but then look for 5 waves up to higher highs to complete it's major 4th wave then we'll see it go south

GJ will go along for the ride as well to at least 208 area in the coming week(s) - jmho. . .
In forex you can never know, only guess the future. I don't do elliot waves, sometimes they look wonderful but sometimes it's just impossible to fit them to the charts, (GBP/USD weekly 1980-1990's, just an example). What I feel about economy is that that the $ has been going down since 2000, I think it will go on till 2009-2012. I've heard UK is affected by US economy which is very very bad right now. So £ goes down, it has done so since late 2007. Basically western world economy is going shit and asia is going well. Ok this was long term fundamental. But my previous post was pure technical. I also think we will get another surprise news at any time soon, (bear stearns kinda thing), maybe not so smart to just guess for such a thing to happen and trade after it .
Remember I'm newbie lol.
  • #71,620
  • Apr 2, 2008 11:23am Apr 2, 2008 11:23am
Well let's say price reverses at the daily trendline I think that will happen 204.5 - 206. One thing is that when I switch between timeframes the line is 80 pips different where price would meet it if it goes straight up. 204.7 on lower timeframes, 205.5 on daily and weekly. This is just how the charting software does it (MT4). But it's just one reason charting isn't perfect, as malcolmb14 use to say.
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